Sensex Today Stock Market LIVE Updates: Sensex surges 700 pts, Nifty nears 25,000 as RBI cuts repo rate by 50 bps; Nifty Bank hits record high

Synopsis: Indian equity benchmarks, Sensex and Nifty, rallied sharply after the Reserve Bank of India (RBI) announced a larger-than-expected 50 basis point cut in the repo rate, bringing it down to 5.50%. The surprise move boosted investor sentiment, pushing the Nifty closer to the 25,000 mark and lifting the Sensex by 700 points. Market Overview: Despite early losses, the indices rebounded, with 12 of the 13 major sectoral indices ending in the green. Broader markets also saw gains, with midcaps and smallcaps each rising around 0.4%. Highlights of Trade: Nifty Bank hit an all-time high FMCG, Auto, Financials, and Realty sectors traded strong IT, Media, and Pharma sectors closed with losses